Radio Station Auction FAQ
How can I protect my relationship with current clients who wish to participate in the Radio Station auction?
There are two ways to protect your current client base: First, concentrate on selling mainly to new and inactive clients. Second, the Radio Auction system has developed a proven formula for selling to current clients and you can use this formula to safely sell the auction to your existing customers.
Do the auction items ever leave the retailers store?
All auction items remain at the store until the winning bidder arrives with a paid Winning Bid Certificate.
Are the items new?
Yes, all items in the auction are brand new unless otherwise indicated on the item page or in the auction rules.
Who is eligible to participate?
It's up to you but we suggest that bidding be open to anyone 18 years of age or over. Employees of participating businesses may bid, but not on items that are provided by their respective companies. Most Newspapers, Radio Stations and Fundraisers allow their staff to bid on auction items.
Why is there an 'opening bid' when the item cannot be sold for less than the reserve price?
Our auction is set up much the same way as many 'live auctions' where the items must reach the reserve price in order to be sold. Traditionally these 'live auctions' have an opening bid less then the reserve price to initiate bidding.
Are bidders bound in any way when placing a bid?
Yes, each individual bid is considered a legally binding offer to purchase the particular item at a price NOT exceeding the maximum secret bid.
Can bidders retract a bid?
No, under no circumstances will retraction of a bid be allowed.
Does the bid include tax?
No, successful bidders will be responsible for all applicable taxes on the items they purchase at their winning bid.
Why do you require a valid credit card to set up an account?
This is not true with all auctions and is the choice of the auction client. Where it is, the Auction Committee requires a valid credit card to secure bids however the credit card is not processed at that time. Upon winning an item(s) at the end of the auction, bidders are contacted by the Auction Committee. At that time they may make a payment using the credit card or through other means.
How do bidders know if they are the winning bidder?
There are several ways to find the results of the auction. Bidders may go on-line and check 'My Bid History'. Other alternates are to contact the call center or check printed results that may be printed in a local newspaper. Winning bidders may pay by certified check, money order, VISA, Mastercard or AMEX. (For larger ticket items winners are expected to make a deposit at auction close and then quickly make arrangements for payment/financing).
Do we (the Radio Station) have to install any software on our computers to run an auction?
No, the entire application is served up by Auction Media from our powerful servers across the Internet. All you need is a good computer, a recent Internet browser and Internet access - you can track the Radio Station auction and administer the system from just about anywhere. Many clients keep an eye on things using a handheld device such as Palm pilot with Internet access!
Our Radio Station does not have a website; can we still use the Radio Station auction system?
Yes, we have performed many successful auctions for clients who do not have their own web site.
What is the second place bidder principle?
This is when bidders who had their heart set on a particular item did not become the winning bidder of that item. They then go to the business and purchase that product or service anyway.
Isn't this barter?
We prefer to call it "trade for advertising". With the addition of the auction feature and the use of our powerful web based auction software, it so much more than that. Have a look at the many features, advantages and benefits of holding a Radio Station auction and you will see what we mean.
Can Auction Media process credit cards on our behalf?
Yes, we can if we use the merchant account(s) of the radio station and act as a "3rd party processor". Auction Media is not allowed to process credit card transactions for auction items through our own merchant account - then send you payment. This is called "factoring" and is not tolerated by the Credit Card Companies and Acquiring (Merchant) Banks. Fines of up to $100,000 can be levied and your merchant account can be revoked. If you feel that a separate merchant account is required for accounting needs then we suggest that your Radio Station open a second merchant account specifically for auction funds.
How is your system different than an "e-bay" style auction?
On E-bay, most items are "used" or "re-conditioned" and are often being sold to you by someone across the country. The number one complaint to the FBI is getting ripped off by a seller who collected the money and did not send the item. A Radio Station Auction is different because all of the items up for auction are brand new products, still under warranty and they are supplied by local businesses. The bidders can also visit the store to see the article(s) on display and ask questions. Furthermore, the Radio Station Auction is provided by the local Radio Station - a name your readers know and trust.
How are Radio Station Sales Reps Paid?
It's up to your individual Radio Station to decide exactly how your sales reps will be paid. Some pay based on rate card value of the advertising sold, others pay based on the price of the winning bid but either way, all are paid only for items that meet reserve. If an item does not meet its reserve, then there is no sale and no exchange of advertising. Sales reps are also often paid or given "spiffs" for each auction item or contract signed.